Chicago, IL – November 12, 2014 – American Street Capital (“ASC”) announced today that it has arranged $2.13 million in financing for an owner-occupied industrial property in Addison, IL.
ASC worked exclusively on behalf of their client to secure the 25-year fully amortizing loan with a correspondent SBA lender.
A trucking company with a short history and very sizeable recent growth, the owner was challenged to find a local lender willing to provide a high leverage, long-term fixed product for acquiring the property it was historically leasing. ASC successfully utilized a national, dedicated SBA lender that required only a 10% equity contribution and provided a low interest rate, 25-year fixed loan solution.
The loan was originated by Igor Zhizhin, the President of ASC
About American Street Capital
American Street Capital (“ASC”) is a Chicago-based national commercial real estate finance firm with correspondent lending relationships specializing in securing balance sheet and CMBS loans for multi-family, mixed-use, student housing, mobile home parks, assisted living, hospitality, retail, office, owner-occupied properties, and traditional investment properties. With its diverse correspondent relationships ranging from private individuals to government agencies, ASC offers a consultative, customized approach to sourcing commercial real estate debt that is unique among its competitors. Focusing primarily on the more challenging transactions in the small balance segment for loans up to $30MM, ASC has established a national reputation of offering best in class customer service and loan structures that historically were exclusively available to large balance institutional clients. Further information is available at www.amstcap.com. Follow American Street Capital on Twitter @AmericanStCap.
American Street Capital